Garden State Investment Advisory Services LLC Trims Position in Netflix, Inc. (NASDAQ:NFLX)

Garden State Investment Advisory Services LLC cut its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,728 shares of the Internet television network’s stock after selling 64 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Netflix were worth $1,935,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. International Assets Investment Management LLC raised its position in Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after purchasing an additional 5,748,200 shares during the period. Assenagon Asset Management S.A. lifted its position in Netflix by 154.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after buying an additional 642,920 shares during the period. State Street Corp boosted its holdings in shares of Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after buying an additional 426,740 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in Netflix in the third quarter worth about $222,871,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on NFLX. Oppenheimer increased their target price on Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Citigroup lifted their price target on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Barclays reissued an “underweight” rating and issued a $550.00 price objective on shares of Netflix in a research note on Friday, October 18th. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $787.85.

Netflix Stock Performance

Shares of NASDAQ:NFLX traded down $10.55 during trading on Friday, reaching $915.00. The company had a trading volume of 471,149 shares, compared to its average volume of 3,615,058. Netflix, Inc. has a fifty-two week low of $461.86 and a fifty-two week high of $941.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s fifty day moving average price is $810.04 and its 200 day moving average price is $717.45. The firm has a market capitalization of $391.13 billion, a price-to-earnings ratio of 52.38, a price-to-earnings-growth ratio of 1.80 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. As a group, equities research analysts predict that Netflix, Inc. will post 19.78 EPS for the current year.

Insider Activity

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the transaction, the chairman now owns 114 shares in the company, valued at $102,212.40. The trade was a 99.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David A. Hyman sold 267 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the sale, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,405 shares of company stock valued at $129,623,487 over the last 90 days. Insiders own 1.76% of the company’s stock.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.